ssenger count and the 12th largest containerized cargo operation in the country, and is also one of only 85 ports in America to operate with a profit (Novacek, 9). In 1996 the port showed $9.3 million in profits (Bussey, 20). According to Goodkin Research Corp. buying and developing this additional 272 acres could mean an economic impact of $3.4 billion in profit over 20 years (Hemlock, 6). Pujalt 2Mr. Novacek’s previously cited article also stated that the value of expanding Port Everglades can’t be measured by an appraisal. Port Everglades’ land is located close to a large scale of economic generators such as seaports, airports, and highways. The worth of Port Everglades and its surroundings transcends far above the normal value of ordinary land (9).The cost of the expansion is an approximated $140 million (Bussey, 20). As Novacek explains, the benefits by far outweigh the cost. The cost of the expansion will create a site for a 40-acre inter-modal container-transfer facility. An inter-modal facility is a dockside railroad yard that inexpensively and efficiently handles big cargo containers between ships, railroad cars, and trucks. This facility would provide a hub similar to that of airlines. This facility will also be used to provide a section for new container-cargo ocean services, warehousing, and in-transit storage for automobiles (9).On September 23, 1997 the Broward County Commission voted 4-3 to buy the 272 acres next to the port from Michael J. Swerdlow for $120 million. Swerdlow will then lease back 97 acres to build warehouses, paying the Port $45 million over 30 years (Bussey, 20). There will be no taxpayer dollars spent in acquiring this land. The Port’s business community will provide the revenues to purchase the land. As an enterprise fund within Broward County Government, Port Everglades is a self-sustaining agency. It generates its own revenues and pays its own expen...
